California Based Zenprise Raises $9 Million
Date: Monday , August 02, 2010
Zenprise, a provider of enterprise mobile management and device management software company, has secured $9 million in new funding. The round was led by the Menlo Park based Rembrandt Venture Partners with participation from the existing investors, including Ignition Partners, Bay Partners, Mayfield, and Shasta Ventures. The funding is part of a fourth round of funding raised a year ago. To date, the company has raised a total of $40 million. Zenprise, led by Jayaram Bhat, will use the investment to expand its sales and marketing efforts as well as to fuel research and development activities.
Based in Fremont, California, Zenprise offers tools for IT departments to manage their team’s smartphones. Founded in 2003, Zenprise provides service-management software that delivers automated diagnosis and resolution of problems across the Microsoft Exchange and BlackBerry environment. Currently, the company has over 300 customers including Boeing, Comcast, and Vodafone. The company has seen 175 percent increase in its revenue during the first quarter of 2010.
The sheer volume and complexity of employee-owned and corporate-issued smartphones entering the enterprise is driving the demand for Zenprise’s MobileManager software. “The use of consumer-friendly smartphones in large companies has surged in the past year or so, especially with the addition of business and security features to the iPhone. Venture capitalists are looking to jump on this trend too, and that is why they approached Zenprise, even though the company was not planning to raise more money at the time,” says Bhat, CEO, Zenprise.
Zenprise’s extensive list of more than 300 customers is globally spread across different verticals like consumer services, government organizations, healthcare, legal, and oil and gas firms.